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How Iran war laid bare the worlds reliance on Gulf oil and gas
Posted onSince the conflict began, the price of oil has soared and is currently trading at over a third higher at $100 a barrel, pushed up by air strikes on shipping and energy infrastructure, and the effective closure of the Strait of Hormuz, a vital waterway for energy shipments, which carries a fifth of global oil…
BP puts North Sea business up for sale
Posted onThe North Sea has increasingly become a topic for political debate. In its 2024 general election manifesto, Labour said it would not issue new licences for drilling, but would honour existing ones. But in recent months, as the Iran war pushed up global oil prices, calls have grown for more North Sea drilling to be…
Ryanair to raise fares after profits dip amid Italy abuse fine
Posted onRyanair is to raise its fares following a fall in quarterly profits after being fined by Italy’s competition watchdog for abusing its market position. The budget airline posted pre-tax profits of €24.4 (£21.2m) for the three months to December, an 83% drop from the same period the previous year. But the company remained confident saying…
Shell profits double as oil prices rise due to Iran war
Posted onShell’s profits for the second quarter of the year have more than doubled after the Iran war pushed up oil prices. The oil giant posted profits of $9.84bn (£7.37bn) for the April-to-June period, up from $4.26bn at the same point last year. The price of crude has risen since the outbreak of the US-Israel war…
Rail fares to be frozen in England next year
Posted onRail fares in England next year are to be frozen for the first time in 30 years, the government has announced. The freeze until March 2027 will apply to regulated fares, which includes season tickets and off-peak returns. The most recent fare rise, in March 2025, was 4.6%. Rail fares traditionally have gone up in…
